Financials · financial year 2025, micro format
2025 annual accounts filed 28 days after the deadline Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00443106.
Annual accounts 2025 filed on 28-08-2026 at the NBB all 4 filings
Equity
€126,104▲ 57.6%
2024 · €79,999
Net result
€46,104▲ 39.6%
2024 · €33,021
Total assets
€151,316▲ 28.0%
2024 · €118,207
Solvency
83.3%▲ 15.7pp
2024 · 67.7%
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€57,642
▲ 32.8%
2025
20222025
Net result
€46,104
▲ 39.6%
2025
middle half of the sector
20222025
Equity
€126,104
▲ 57.6%
2025
middle half of the sector
20222025
Total assets
€151,316
▲ 28.0%
2025
middle half of the sector
20222025
Debt
€25,212
▼ 34.0%
2025
20222025
Working capital
€126,104
▲ 57.6%
2025
middle half of the sector
20222025
Solvency
83.3%
▲ 15.7pp
2025
highest quarter of the sector
20222025
Current ratio
6.00
▲ 2.91
2025
highest quarter of the sector
20222025
Return on assets (ROA)
30.5%
▲ 2.5pp
2025
highest quarter of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€20,068-€45,329▲ 126%€43,409▼ 4.2%€57,642▲ 32.8%
Net result€11,525within the sector's middle half-€31,254within the sector's middle half▲ 171%€33,021within the sector's middle half▲ 5.7%€46,104within the sector's middle half▲ 39.6%
Equity€15,725below the sector's middle half-€46,979within the sector's middle half▲ 199%€79,999within the sector's middle half▲ 70.3%€126,104within the sector's middle half▲ 57.6%
Total assets€29,079below the sector's middle half-€76,848below the sector's middle half▲ 164%€118,207below the sector's middle half▲ 53.8%€151,316within the sector's middle half▲ 28.0%
Debt€13,355-€29,870▲ 124%€38,208▲ 27.9%€25,212▼ 34.0%
Working capital€15,733within the sector's middle half-€47,012within the sector's middle half▲ 199%€79,999within the sector's middle half▲ 70.2%€126,104within the sector's middle half▲ 57.6%
Solvency54.1%within the sector's middle half-61.1%within the sector's middle half▲ 7.1pp67.7%within the sector's middle half▲ 6.5pp83.3%above the sector's middle half▲ 15.7pp
Current ratio2.18within the sector's middle half-2.58within the sector's middle half▲ 0.403.09within the sector's middle half▲ 0.526.00above the sector's middle half▲ 2.91
Return on assets (ROA)39.6%above the sector's middle half-40.7%above the sector's middle half▲ 1.0pp27.9%above the sector's middle half▼ 12.7pp30.5%above the sector's middle half▲ 2.5pp
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 33% higher than in 2024 and the highest since 2022. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €151,316
Equity
€126,104 ▲ 57.6%
Debt
€25,212 ▼ 34.0%
Debt's share of the balance-sheet total falls from 32.3% to 16.7%. Equity is higher and debt is lower.
Key figures and ratios
ROE
36.6%▼
2024 · 41.3%
Debt ≤ 1 year
€25,212▼
2024 · €38,208
Income taxes
€11,260▲
2024 · €10,460
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Financial fixed assets | - | - | - | €0 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €2,070 awarded · €2,367 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €0 | €297 |
| 2022 | 1 | €2,070 | €2,070 |
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | - | - | - |
| Other operating charges640/8 | €1,918 | €412 | €191 | €1,982 | ▲ 937% |
| Gross operating margin9900 | €21,986 | €45,741 | €43,600 | €59,624 | ▲ 36.8% |
| Operating profit (loss)9901 | €20,068 | €45,329 | €43,409 | €57,642 | ▲ 32.8% |
| Financial income75/76B | €0 | €1 | €120 | €0 | ▼ 99.9% |
| Recurring financial income75 | €0 | €1 | €120 | €0 | ▼ 99.9% |
| Financial charges65/66B | €1,002 | €48 | €47 | €278 | ▲ 492% |
| Recurring financial charges65 | €1,002 | €48 | €47 | €278 | ▲ 492% |
| Profit (loss) for the period before taxes9903 | €19,066 | €45,281 | €43,481 | €57,364 | ▲ 31.9% |
| Income taxes67/77 | €7,541 | €14,028 | €10,460 | €11,260 | ▲ 7.6% |
| Profit (loss) for the period9904 | €11,525 | €31,254 | €33,021 | €46,104 | ▲ 39.6% |
| Profit (loss) for the period to be appropriated9905 | €11,525 | €31,254 | €33,021 | €46,104 | ▲ 39.6% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €29,079 | €76,848 | €118,207 | €151,316 | ▲ 28.0% |
| Current assets29/58 | €29,079 | €76,848 | €118,207 | €151,316 | ▲ 28.0% |
| Amounts receivable within one year40/41 | €6,055 | €22,099 | €24,936 | €17,620 | ▼ 29.3% |
| Trade receivables40 | €5,451 | €22,094 | €24,310 | €15,085 | ▼ 37.9% |
| Other amounts receivable41 | €604 | €6 | €626 | €2,535 | ▲ 305% |
| Cash at bank and in hand54/58 | €22,067 | €53,708 | €92,307 | €132,732 | ▲ 43.8% |
| Deferred charges and accrued income490/1 | €957 | €1,040 | €963 | €963 | = |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €29,079 | €76,848 | €118,207 | €151,316 | ▲ 28.0% |
| Equity10/15 | €15,725 | €46,979 | €79,999 | €126,104 | ▲ 57.6% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €10,725 | €41,979 | €74,999 | €121,104 | ▲ 61.5% |
| Distributable reserves133 | €10,725 | €41,979 | €74,999 | €121,104 | ▲ 61.5% |
| Amounts payable17/49 | €13,355 | €29,870 | €38,208 | €25,212 | ▼ 34.0% |
| Amounts payable within one year42/48 | €13,346 | €29,836 | €38,208 | €25,212 | ▼ 34.0% |
| Trade debts44 | €1,575 | €2,961 | €1,670 | €1,391 | ▼ 16.7% |
| Suppliers440/4 | €1,575 | €2,961 | €1,670 | €1,391 | ▼ 16.7% |
| Taxes, remuneration and social security45 | €11,541 | €26,656 | €36,538 | €23,628 | ▼ 35.3% |
| Taxes450/3 | €11,541 | €24,656 | €34,538 | €19,628 | ▼ 43.2% |
| Remuneration and social security454/9 | - | €2,000 | €2,000 | €4,000 | ▲ 100% |
| Other amounts payable47/48 | €230 | €219 | - | €193 | - |
| Accrued charges and deferred income492/3 | €9 | €34 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,525 | €31,254 | €33,021 | €46,104 | ▲ 39.6% |
| Operating cash flow (approximation) | €11,525 | €31,254 | €33,021 | €46,104 | ▲ 39.6% |
| Change in cash | - | €31,641 | €38,599 | €40,425 | ▲ 4.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.